Hello traders , after doing my technical analysis on EURJPY pair looks Bearish in my opinion .
Here is Why :
- Weekly Candle Closed As Inversed Hammer on a KEY RESISTANCE level
- 4H time frame : We have a Head and shoulder reversal pattern on the key resistance and At the same time A DOUBLE TOP PATTERN on that level (as the head) further signification that the price might go down
- We Have the neckline of the head and shoulders was Previously a Neckline of many Reversal patterns in the past if you look left and it has been broken many times before so more chances that it will break again this time and go bearish
- And finnally we have a Bearish RSI Divergence
wait for the neckline to be broken then enter on the retest
this is just my idea , Not financial advice mfs
good luck ;)
Here is Why :
- Weekly Candle Closed As Inversed Hammer on a KEY RESISTANCE level
- 4H time frame : We have a Head and shoulder reversal pattern on the key resistance and At the same time A DOUBLE TOP PATTERN on that level (as the head) further signification that the price might go down
- We Have the neckline of the head and shoulders was Previously a Neckline of many Reversal patterns in the past if you look left and it has been broken many times before so more chances that it will break again this time and go bearish
- And finnally we have a Bearish RSI Divergence
wait for the neckline to be broken then enter on the retest
this is just my idea , Not financial advice mfs
good luck ;)
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